Our senior associate Mari Agarmaa and assistant lawyer Maarika Maripuu published an overview of insolvency law updates in INSOL Europe.

Commercial insolvency

Bankruptcy Act
The Bankruptcy Act is the central act in Estonian insolvency law, handling the issue of commercial bankruptcy. In addition to that, the Bankruptcy Act also regulates questions regarding the newly founded Estonian Insolvency Division and the rights and obligations of bodies in the bankruptcy proceedings, i.e. the trustee and bankruptcy committee.
Bankruptcy Act can be found in Estonian and in English.

Reorganisation Act
The Reorganisation Act concerns all issues regarding the restructuring of insolvent companies. The act regulates both the proceedings and the work of the reorganisation adviser.
Reorganisation Act can be found in Estonian and in English.

Personal insolvency

Natural Person Insolvency Act
The Natural Person Insolvency Act is a relatively new act consolidating all regulation regarding the insolvency of a natural person.
Natural Person Insolvency Act can be found in Estonian and in English.

Commercial code (in Estonian, English and Russian)
Non-profit Associations Act (in Estonian, English and Russian)
Foundations Act (in Estonian, English and Russian)
Commercial Associations Act (in Estonian and in English)
Conciliation Act (in Estonian and in English)
Enforcement Agents Act (in Estonian, English and Russian)

Additional resources

How Estonia has implemented Directive (EU) 2019/1023 (as part of the Joint Project between INSOL Europe and LexisPSL on the implementation analysis of the Directive (EU) 2019/1023 in the EU Member States – as at 16/08/2022) written by Signe Viimsalu of SIGN9, Country co-ordinator for INSOL Europe (2022)

Restructuring Laws and Regulations in Estonia (CEE Legal Matters article from 15/09/2022) written by Triin Tõnisson and Mari Agarmaa.

Source: INSOL Europe